Landlord Insurance New Jersey

Where your rental home is located is key to your Landlord Insurance cost. Your zip code, city, and state can have different risk rates for weather damage, like hurricanes or floods, or higher claims history due to crime, affecting your coverage final price. In the end, the whole point of having insurance is keeping your investment protected, right?

“Age matters”. This may not be the nicest say in most case scenarios, yet it can be when it’s meant to protect your rental home. Older homes typically require more maintenance and repairs, meaning that your premium prices could bump up. At PSIC we want to make sure your investment property has reliable protection and is ready to handle unexpected surprises that may come your tenant’s way.

Think of your deductibles as a way to strike a balance that works for you. If you go for a higher deductible, you can score some lower premium rates. But, keep in mind that this also means you'll have to cover more out-of-pocket expenses if you have to file a claim.

Robust and reliable homes often mean lower premiums. If your rental home is strong and was built with durable materials, let’s say fire-resistant, you're set for savings. Our coverage protects you from perils like fire, wind, freezing, and theft, so it pays off to have a solid foundation.

Your claims history reflects on your policy cost. Meaning, that if you didn’t file any claim in the past years, either with PSIC or another insurer, it can positively influence your premium rate! Why? Your claims history indicates potential risks of future claims, which in turn raises or decreases premium costs.

This factor considers your rental activity in your property. If you are more likely to have long-term tenants on year-long leases, it generally implies stability and responsible care for the property. Occasional short-term leases can indicate less commitment, potentially leading to damage and higher premiums.